EU Wheat Close
November London wheat closed GBP0.55/tonne higher at GBP147.30/tonne, with November Paris wheat ending up EUR0.25 at EUR214.00/tonne.
The German Farmers' Union Deutscher Bauernverband (DBV) said that this season's grain harvest there will fall to 43.9 MMT, much lower than the previous year's harvest of 49.7 MMT.
Heat and drought in June and July gave way to heavy rains in August, all of which have conspired to produce premature ripening resulting in yield and quality losses, they said.
Although large areas of winter wheat remain uncut, they expect that final output this year will only be 22.7 MMT, down 9% from last season. A reduced planted area and lower yield mean that this season's winter barley crop will amount to 8.6 MMT, with spring barley accounting for a further 1.7 MMT. That gives a total German barley crop of 10.3 MMT, 15.6% down on last season.
This season's rapeseed crop is expected at 5.6 MMT, as yields fell by almost 10% on last season, oil content is around 40-44%, they added.
DBV's wheat number is towards the low end of other trade estimates, whilst the barley and OSR estimates are pretty much bang on what is being touted around elsewhere.
The Ukraine government today deferred a decision on the introduction of grain export quotas for the second week in a row. Early ideas that a quota of only 2.5MMT may be introduced for the remainder of 2010 are fading, with some analysts now forecasting 15-16 MMT could still be exported during the 2010/11 marketing year.
Egypt passed on US grain again today, buying 240,000 MT of French and Canadian wheat instead.
The German Farmers' Union Deutscher Bauernverband (DBV) said that this season's grain harvest there will fall to 43.9 MMT, much lower than the previous year's harvest of 49.7 MMT.
Heat and drought in June and July gave way to heavy rains in August, all of which have conspired to produce premature ripening resulting in yield and quality losses, they said.
Although large areas of winter wheat remain uncut, they expect that final output this year will only be 22.7 MMT, down 9% from last season. A reduced planted area and lower yield mean that this season's winter barley crop will amount to 8.6 MMT, with spring barley accounting for a further 1.7 MMT. That gives a total German barley crop of 10.3 MMT, 15.6% down on last season.
This season's rapeseed crop is expected at 5.6 MMT, as yields fell by almost 10% on last season, oil content is around 40-44%, they added.
DBV's wheat number is towards the low end of other trade estimates, whilst the barley and OSR estimates are pretty much bang on what is being touted around elsewhere.
The Ukraine government today deferred a decision on the introduction of grain export quotas for the second week in a row. Early ideas that a quota of only 2.5MMT may be introduced for the remainder of 2010 are fading, with some analysts now forecasting 15-16 MMT could still be exported during the 2010/11 marketing year.
Egypt passed on US grain again today, buying 240,000 MT of French and Canadian wheat instead.